United States | Solar isn’t anything new to the U.S home energy market. However, the current systems being offered by solar energy companies at such low prices is something the home energy market has yet to feel the true effects of. Price drops, new loan programs, and incentives, are all fueling growth in the home energy market with a win-win situation for customers who want to purchase solar energy.
Recent analytics and reports from GTM Research show us U.S residential solar financing 2014-2018 projections. PS Energy advisor John Adler interprets this report as a sign of a likely spike in new customers for PS Energy in 2015. The report includes an extensive 30+ page update on the competitive landscape of the solar industry, new financing programs, and new customer preferences.
Nicole Litvak is a research analysts for GTM who was responsible for the recent 2014 report on residential solar financing.
Nicole points out some key factors about the current shift in the solar market. “Solar loans are becoming widely available with many more options to choose from than in the past, and declining system costs are making direct ownership affordable for more homeowners,” explains Nicole. Various components in her report lead John Adler from PS Energy to believe 2015 will be an unprecedented year for solar panel sales. “PS Energy is pleased to have been making parallel adjustments in 2014 to coincide with the projected shifts in consumer behavior. Our continual effort to best serve new solar consumers will play a key role in a spike of sales in 2015,” explains John.
Companies like PS Energy do a great job providing customers with reliable third party finance programs that make quality solar panels more affordable over a 20 year pay period.
More solar companies are teaming up with leading banks and top investors to continue this pattern of growth and expansion in the home energy market for 2015.
Solar energy prices are lower than ever and continue to drop. Solar is now being looked at as a more long term reliable and secure investment by major banks. This provides grounds for an increase in loans, putting companies like PS Energy ahead of the curve. There is also a recent resurgence for solar leasing and power purchase agreements (PPAs).
PPAs allow homeowners to enjoy the benefits of solar without purchasing a system. The homeowner does not pay for the cost of the system, rather just the cost of the energy provided by the system each month. Homeowners put nothing down upfront and end up paying less than their current electricity bill and are able to save money while reducing their carbon footprint.
These programs have all existed for sometime now, however with recent solar industry reports in 2014, and significant price drops year after year, 2015 is projected to be a massive year for consumers looking to lease or finance solar energy.